Inflation in the United Kingdom eased in May, strengthening expectations that the Bank of England BoE will maintain its current interest rate when it announces its monetary policy decision on Thursday.
The United Kingdom experienced a sharper-than-expected rise in annual inflation in April, with the rate climbing to 3.5%, up 2.6% in March. This marks the highest reading since January 2024 and reflects growing cost-of-living pressures, according to the Office for National Statistics ONS.
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